Analysis of Investment Value and Business Logic of Beijing Energy Power's Daihai New Energy Project

1. Potential Impact of Local Governments’ “Generous” Investment Strategy
   : Current data on the specific manifestations of local governments’ “generous” investment strategy has not yet been found, but from the external conditions of the Daihai New Energy Project (geographical location advantages, supporting resource support), local governments may reduce project operating costs through policy support or resource inclination, thereby having a positive impact on Beijing Energy Power’s valuation. However, due to the lack of detailed strategy data, the specific impact extent is difficult to quantify.

2. Investment Background and Conditions of the Daihai New Energy Project
   : The total investment of the project is 8.287 billion yuan. Beijing Energy Power obtained control with a lower valuation through equity bidding. The project has resource advantages such as the deep peak-shaving capacity of Daihai Power Plant and supporting transmission lines [0]. On December 4, 2025, the project has achieved full-capacity grid-connected power generation [3], laying the foundation for subsequent operations.

3. Verification Issues of Financial Expectations
   : Social media analysis shows that the claims that the project’s net profit during the tax exemption period can reach 900 million to 1 billion yuan and the valuation of 2.43 billion yuan have not been publicly verified [1][2], and there is information uncertainty. At the same time, the lack of complete financial performance data of Beijing Energy Power over the past 14 years makes it difficult to fully evaluate the project’s impact on the company’s overall performance.

1. Sustainability of Project Advantages
   : The geographical location advantages and supporting resources of the project (such as peak-shaving capacity, transmission lines) have certain uniqueness. If they can be effectively transformed into operational efficiency and cost advantages, they will provide support for the long-term operation of the project.

2. Information Asymmetry Risk
   : Some core financial data and valuation information have not been publicly verified, and investors need to be alert to decision-making risks that may be caused by information asymmetry.

1. Risks
   :
   • Financial expectations have not been publicly verified, and actual profits may be lower than market expectations
   • Lack of specific data on local government investment strategies, and the sustainability of policy support is questionable
   • Project operation faces industry risks such as fluctuations in electricity market prices

2. Opportunities
   :
   • After the project is fully connected to the grid, it is expected to contribute a new profit growth point for the company
   • Supporting resource advantages may improve project operational efficiency and competitiveness

The Daihai New Energy Project has certain resource and geographical location advantages, and has achieved full-capacity grid-connected power generation, which is expected to become an important project for Beijing Energy Power. However, some financial expectation data have not been publicly verified, and the specific performance of local government investment strategies also lacks clear information. The sustainability of the project’s business logic still needs more data support. Investors need to comprehensively consider verified information and potential uncertainties when evaluating the project’s value.

All citations have been integrated into the citations field.